Bank Of America Stock News

Terra Nova Asset Management LLC grew its position in Bank of America Co. (NYSE:BAC) by 2.1% in the third quarter, HoldingsChannel.com reports. The fund owned 14,300 shares of the financial services provider’s stock after buying an additional 300 shares during the period. Terra Nova Asset Management LLC’s holdings in Bank of America were worth $607,000 […]

Dynamic Advisor Solutions LLC boosted its position in shares of Bank of America Co. (NYSE:BAC) by 2.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 116,184 shares of the financial services providers stock after acquiring an additional 2,890 shares during the quarter. []

Tighter Policy Is Everything Banks Could Wish For By Michael Msika, Bloomberg Markets Live commentator and reporter After the U.S. Federal Reserves expected hawkish pivot last night, its now down to the European Central Bank and the Bank of England to address surging inflation. Their decisions will have a big impact on banking stocks, which have strongly outperformed in 2021. Banks have gained almost 30% this year, vying with technology stocks as the top sector, amid strong results and as stickier-than-expected inflation has fueled rate-hike expectations. A hawkish tilt in monetary policy heading into 2022 is what the sector needs to keep its rally going. Banks are the key play on potentially rising yields and on the re-steepening of the yield curve next year, say JPMorgan strategists led by Mislav Matejka. Despite the rally this year, lenders are not expensive. With a blended forward P/E of 8.5 and a forward price-to-book of 0.6, the sector is still historically cheap, on an absolute and a relative basis.

U.S. stock futures rose sharply in early Thursday trading after the Federal Reserve signaled it would be aggressive on tapering and sees three interest rate hikes in 2022. Futures for the Dow Jones Industrials jumped 210 points, or 0.6%, to 36,026. Futures for the S&P 500 grew 27.75 points, or 0.6%, to 4,728.25. Futures for the NASDAQ hiked 80.25 points, or 0.5%, to 16,366.50. Shares of companies that have done well in previous rate-hiking cycles led pre-market gainers. Materials stocks FMC Corp. and Freeport-McMoRan both rose more than 3% ahead of the opening bell. Bank stocks also rose across the board, with JPMorgan Chase, Citigroup and Bank of America all up about 0.6%. In transportation news, Delta Air Lines reported that it now expects to see a profit of $200 million in the fourth quarter, after previously projecting a loss. Shares rose 2.2% on the news. Health-care stocks UnitedHealth gained 3.1%, and Amgen rose 2.6%. Adobe and Accenture are scheduled to report quarterly earnings before the opening bell.

Futures pointed to a higher opening for Canada''s main stock index on Thursday, aided by gains in both crude and gold prices, while an upbeat economic outlook from the U.S. Federal Reserve boosted sentiment. The S&P/TSX Composite surged 120.59 points to close the midweek session to 20,769.16. Futures were up 0.6% Thursday. Canadian Imperial Bank of Commerce and National Bank said Wednesday they have asked staff in Canada to work remotely, joining Bank of Nova Scotia in halting plans for a return to offices amid growing concerns over the Omicron variant. CIBC raised the rating on Cineplex to outperform from neutral. Canaccord Genuity cuts the rating on Freshlocal Solutions to hold from buy. CIBC cut the rating on Manulife Financial to underperform from neutral. On the economic beat, Statistics Canada reported wholesale sales grew 1.4% in October to the highest level on record, 11.4% higher than in February 2020. Ontario sales and the motor vehicle and motor vehicle parts and accessories sub-sector drove the increase.

Global fund managers have trimmed their exposure to technology stocks in December while buying more healthcare stocks, Bank of Americas Global Fund Managers survey for December showed. Fund managers have cut their investments in the technology sector by nearly 10 percentage points while adding more healthcare stocks and also increasing their cash positions to the []

Bank of America upgraded shares of ONE Gas (NYSE:OGS) from a neutral rating to a buy rating in a research note released on Wednesday morning, Price Targets.com reports. The brokerage currently has $78.00 target price on the utilities providers stock, up from their previous target price of $65.00. Several other research firms have also issued []

Bank of America upgraded shares of Amcor (NYSE:AMCR) from an underperform rating to a buy rating in a research note released on Wednesday, Analyst Ratings Network reports. The brokerage currently has $13.20 price objective on the stock. Other research analysts also recently issued research reports about the company. The Goldman Sachs Group downgraded Amcor from []

Galera Therapeutics (NASDAQ:GRTX) was upgraded by equities researchers at Bank of America from an underperform rating to a neutral rating in a research report issued on Tuesday, The Fly reports. Several other brokerages have also commented on GRTX. Citigroup dropped their price target on shares of Galera Therapeutics from $21.00 to $11.00 and set a []

Bank of America Seems Impressed by Avalanches Subnets. Read this full report

Basis Cash (CURRENCY:BAC) traded up 3% against the dollar during the 24 hour period ending at 19:00 PM E.T. on December 15th. One Basis Cash coin can currently be bought for about $0.0340 or 0.00000069 BTC on cryptocurrency exchanges. Basis Cash has a market capitalization of $1.85 million and $71,612.00 worth of Basis Cash was []

SeaTown Holdings Pte. Ltd. lessened its holdings in shares of Bank of America Co. (NYSE:BAC) by 0.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 990,000 shares of the financial services providers stock after selling 5,000 shares during the quarter. Bank of []

Lehman & Derafelo Financial Resources LLC trimmed its position in shares of Bank of America Co. (NYSE:BAC) by 5.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 260,168 shares of the financial services providers stock after selling 14,328 shares during the period. Bank of America []

Staircase, a Philadelphia, CA-based company building integrated, digital infrastructure to accelerate tech-enabled mortgages, secured $18m in Series A funding. The round was led by Bessemer Venture Partners with participation from Avid Ventures, Clocktower Technology Ventures, Metaprop Ventures, RRE Ventures, and Zigg Capital, as well as a collection of notable angels, including Tom Montag, COO of Bank of America. The company intends to use [] The post Staircase Raises $18M in Series A Funding appeared first on FinSMEs .